MYR Gateway - SOHO Plan

iPay88 MYR Gateway is an online payment services that facilitates online merchants or e-commerce merchants' online store in Malaysia to process online transactions in Malaysia Ringgit currency (MYR) in large extent and securely. SOHO Plan designed for the merchants who want to enjoy ZERO maintenance fee

Merchant discount rate:

4% per transaction for credit card

4% per transaction or minimum RM0.60 whichever is higher* for online banking (e-debit) and Mobile Money

4% for MEPS Cash and Webcash

* Terms & Conditions Apply

Settlement period: Weekly basis

* This is merchant discount rate for majority online banking services but it may vary from bank to bank
* ipay88 fees are exclusive of all taxes

There is a dispute transaction. The hold back amount is equivalent to the transaction amount disputed. If the transaction disputed successfully (or Charge-back filed) against the merchant, the merchant needs to refund (the charge-back amount only) to the credit card holder. Otherwise, will be released back to the merchant.

Refund / Cancellation

For Credit Card Transaction only. Merchant is allowed to refund/cancel particular credit card transaction to the customer by inform iPay88 to do so.

Payout Frequency

Payout of settlement sum to the merchant is on weekly basis. The settlement cut-off time of every week will be 24:00 (Malaysia Time) of every Sunday. Mobile88 will deposit / transfer the weekly settlement sum into a designated bank account of the merchant within 5 working days after the weekly settlement cut-off day (exclude bank's floating period).

Place and Currency Settlement

The transaction will be settled in Malaysia Ringgit (MYR) and the place of settlement will be in Malaysia. It is recommended that the merchant should have its own account in the banks in Malaysia.

Payout Method

The payout will be reimbursed via direct debit bank transfer / cheque deposit into merchant’s dedicated bank account. The floating period of such transfer is 1-3 working days, subject to the bank account used by the merchant.

There is a dispute transaction. The hold back amount is equivalent to the transaction amount disputed. If the transaction disputed successfully (or Charge-back filed) against the merchant, the merchant needs to refund (the charge-back amount only) to the credit card holder. Otherwise, will be released back to the merchant.

Refund / Cancellation

For Credit Card Transaction only. Merchant is allowed to refund/cancel particular credit card transaction to the customer by inform iPay88 to do so.

Payout Frequency

Payout of settlement sum to the merchant is on weekly basis. The settlement cut-off time of every week will be 24:00 (Malaysia Time) of every Sunday. Mobile88 will deposit / transfer the weekly settlement sum into a designated bank account of the merchant within 5 working days after the weekly settlement cut-off day (exclude bank's floating period).

Place and Currency Settlement

The transaction will be settled in Malaysia Ringgit (MYR) and the place of settlement will be in Malaysia. It is recommended that the merchant should have its own account in the banks in Malaysia.

Payout Method

The payout will be reimbursed via direct debit bank transfer / cheque deposit into merchant’s dedicated bank account. The floating period of such transfer is 1-3 working days, subject to the bank account used by the merchant.